CHAPTER 5 ECONOMIC DIVERSIFICATION: LESSONS FROM …

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135CHAPTER 5ECONOMIC DIVERSIFICATION: LESSONS FROM PRACTICEContributed by the World Bank Group1 Abstract: ECONOMIC diversification remains a challenge for most developing countries and is arguably greatest for countries with the lowest incomes as well as for those whose economies are small, landlocked and/or dominated by primary commodity dependence. For such countries, ECONOMIC diversification is inextricably linked with the structural transformation of their economies and the achievement of higher levels of productivity resulting from the movement of ECONOMIC resources within and between ECONOMIC sectors.

chapter raises awareness on the complexity of the diversification process and the state of knowledge surrounding economic diversification. While the current global environment creates challenges for poor, small, landlocked and/or resource-dependent countries, a range of new diversification routes can be followed.

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